Florida Bankruptcy Lawyer Blog

For an individual considering bankruptcy, the question often arises, “[C]an I keep the money I inherited in an IRA from Grandpa Joe when he passed away?” There is no easy answer to this question, as United States Bankruptcy Courts for the Middle District of Florida have shown.

The answer, as it so often is under the law, is “it depends.” The May 2011 issue of the American Bankruptcy Institute Journal featured an article on Inherited IRAs titled Inherited IRAs: Exemption Issues under the Code.

Continue reading "Are Inherited IRA's Exempt In The Middle District Of Florida? " »

A 20 year Bankruptcy Trustee has been charged with Wire Fraud in the Southern District of Florida. This is the Second Chapter 7 Trustee in the Souther District that is being investigated for financial improprieties.

Marika Tolz is the Chapter 7 Trustee under investigation for missing funds. The other Chapter 7 Trustee awaiting sentencing is Lewis Freeman.

This is a very unfortunate situation. As a bankruptcy attorney who believes in the integrity of the bankruptcy system and has seen the system work for thousands and thousands of clients, I really do not like to see the system tainted in anyway at all.

Although I do not agree with many of the rules and regulations in the Bankruptcy Code, I truly believe the system works as effectively.

Continue reading "Southern District Bankruptcy Trustee Accused of Mishandling $16 Million" »

When filing bankruptcy, it is important to remember that an inheritance you are entitled to may become property of the bankruptcy estate. If you are entitled to an inheritance prior to filing bankruptcy, the inheritance would need to be listed as personal property in your petition even if you will not actually receive the inheritance prior to filing.

Continue reading "Bankruptcy Estate and Inheritance" »